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Sunday, October 5, 2008

ALL IS NOT WELL. The futures are under tremendous pressure and we keep hearing about foreign banks that are on the brink of failure or are failing. I am just depressed---no doubt about it. I think this market is is for a wild ride and not a good one. Logic seemed to tell me that we were seeing forced liquidation and we were having a credit crisis. Further I thought that if the credit crunch could be fixed---then earnings had not been that bad and we could have a good rebound. EVERYONE SEEMS TO BE RUNNING FOR THE DOOR.

I heard someone say that now the tough part begins for the treasury. It will be a longer process if we don't see confidence restored immediately. I think that the general consensus was that once this deal got done, confidence would improve and so would the credit markets. When that didn't happen, some are feeling like it is "collapse time" I think tomorrow is going to be a monumental day. Do we see LIBOR decline? I sure hope so.

So what am I doing----besides kicking myself for not adhering to my sell rules and dumping FLR? I am looking at every single stock I own and preparing to know at what level it should be sold. I have held DEO for years and all of the reports say it should go back up---but I can't feed my family reports. I will know when I will sell everything I own.

Other than that, I am not buying anything until we get some much needed STABILITY.